Hochul Adds New Restrictions to Data Center Development in New York
Gov. Kathy Hochul is expanding on her plans to rein in data center growth in New York. The governor announced Monday a new round of transparency, safety and incident reporting requirements for data...
View ArticleJeff Sutton’s Planned 340-Key Midtown Hotel Enters the Demolition Phase
A Herald Square commercial site owned by Jeff Sutton’s Wharton Properties is headed for the wrecking ball. Florida-based hospitality developer Keyah Real Estate Group filed plans with the city’s...
View ArticleCMBS Conduit Capital Focuses Heavily on Multifamily, Office Sectors
The latest conduit commercial mortgage-backed securities (CMBS) data from CRED iQ reveal a lending market that has grown more selective, not more cautious. Rates broadly eased over the past year, yet...
View ArticleCommercial Real Estate Investment’s Curious Rise Amid Higher Inflation, Rates
Last week, the Federal Reserve raised interest rates by a quarter point while signaling another hike later this year. It seems like just yesterday that everyone in commercial real estate was bemoaning...
View ArticleNew York State’s Opportunity Zones Deadline Is Fast Approaching
New York is becoming an exciting place to build, but there’s an opportunity for even more. Gov. Kathy Hochul pledged for the state to invest $25 billion toward creating 100,000 affordable homes over a...
View ArticleSunday Summary: Rate Hikes, Investor Conferences and Power California
William McChesney Martin, the ninth chairman of the Federal Reserve, is credited with saying that the duty of the Fed is to “take away the punch bowl” just as the party is getting started — i.e., to...
View ArticleAsian-American Deli Café Hestia Signs 8K-SF Lease at 570 Lexington Avenue
A cafe serving Asian and American cuisine is opening a fourth Manhattan location, Commercial Observer has learned. Café Hestia, a group of family-run delis, has signed a 20-year, 8,000-square-foot...
View ArticleEdgewood Capital Provides $28M Refi for Fort Lauderdale Condo Project
Latitude Group has landed a $27.9 million loan to refinance a newly completed condominium project in Fort Lauderdale, Fla., Commercial Observer has learned. Edgewood Capital supplied the loan for the...
View ArticleDecron Properties Buys 163-Unit Property in L.A.’s Miracle Mile for $114M
Decron Properties has acquired a 163-unit property in Los Angeles’ Miracle Mile for $114 million as the firm’s first L.A. deal in nearly two years. The Los Angeles-based investment firm acquired the...
View ArticleCorebridge Financial Refis Meatpacking Office Property With $293M Loan
A joint venture between Aurora Capital Associates and William Gottlieb Real Estate has sealed a $293 million loan to refinance a mixed-use asset in Manhattan’s Meatpacking District, according to a...
View ArticleStroller Brand Uppababy Relocates Store to 156 Montague Street in Brooklyn...
Known for its distinctive strollers, baby gear brand Uppababy is relocating its store within Brooklyn, Commercial Observer has learned. The high-end baby accessories brand is opening a...
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Institutional and Private Equity Investors: Their Commercial Real Estate Hot...
Commercial Observer’s annual Institutional Investor & Private Equity Forum took center stage at 237 Park Avenue in Midtown Manhattan on Sept. 16, when some of the biggest names in commercial real...
View ArticleA Different Downtown San Diego Is Taking Shape
Downtown San Diego looks a lot different than it did a year ago. People who haven’t spent much time there recently may still picture the challenges that dominated conversations before: quiet streets,...
View ArticleBridgeInvest Provides $114M Refi for Robert Rivani ‘Concierge Office’ in...
Developer Robert Rivani has secured $114.3 million to refinance his eponymous Rivani, a 165,170-square-foot office and retail complex on Miami Beach, Commercial Observer can first report. BridgeInvest...
View ArticleVaja Group to Acquire Astoria Development Site at 24-41 31st Street for $26M
Moses Freund’s Vaja Group is set to purchase another development site along the 31st Street corridor in Astoria, Queens, Commercial Observer has learned. The developer will acquire Friday the...
View ArticleBeer-Importing Holterbosch Family Offloads LIC Warehouse for $95M
The Holterbosch family, former owners of a German beer importing and distribution business, has sold a Long Island City, Queens, warehouse a decade after the death of its patriarch. Dallas-based Ground...
View ArticleJuanita’s Foods to Consolidate L.A. Production at 120K-SF Facility
An 80-year-old food manufacturer is consolidating its Southern California operations into a new 120,000-square-foot facility in Santa Fe Springs, in the first deal backed by a recently formed alliance...
View ArticleKnighthead Lends $63M for Doral, Fla., Industrial Portfolio Buy
Midtown Capital Partners has sealed $62.92 million of acquisition financing to fund its purchase of 13 urban-infill, small-bay industrial assets in Doral, Fla., Commercial Observer has learned....
View ArticleAres Management, PSP Investments Form $2.4B U.S. Logistics Partnership
Ares Management is diving deeper into the waters of U.S. logistics. The $670 billion private equity powerhouse announced Wednesday that it has formed a joint venture with Canada’s Public Sector...
View ArticleWells Fargo Refis Long Island City Apartments With $115M Fannie Mae Loan
An affiliate of Rockrose Development has secured $115 million of agency-backed debt to refinance a newly completed multifamily complex in Long Island City, Commercial Observer has learned. Wells Fargo...
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